I am nearing exchange of contracts for my flat in Lampton and the EA has just e-mailed to warn that the purchasers are changing their property lawyer. The excuse is that the lender will only deal with property lawyers on their approved list. Why would a leading lender only engage with specific solicitors rather the firm that they want to choose to handle their conveyancing in Lampton ?
Mortgage companies have always had panels of law firms they are willing to work with, but in the last few years big names such as Yorkshire Building Society, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for decades.
Mortgage companies point to the increase in fraud as the reason for the reduction – criteria have been stiffened as a smaller panel is easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is hearing daily from firms that have been removed from panels. Some are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your purchasers are unlikely to have any impact on this.
Do the Building Society Association intend to launch a search tool with a view to list law firms on the Loughborough BS conveyancing panel for example in Lampton?
Lexsure has not been advised of any intention on the part of the BSA to develop such a register.
Will our solicitor be asking questions regarding flooding during the conveyancing in Lampton.
The risk of flooding is if increasing concern for lawyers dealing with homes in Lampton. Some people will purchase a property in Lampton, fully aware that at some time, it may suffer from flooding. However, aside from the physical damage, if a property is at risk of flooding, it may be difficult to obtain a mortgage, adequate insurance cover, or sell the property. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Lawyers are not qualified to give advice on flood risk, but there are a various checks that can be initiated by the buyer or by their solicitors which will give them a better appreciation of the risks in Lampton. The conventional set of information supplied to a buyer’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a standard question of the seller to find out if the premises has ever been flooded. In the event that the property has been flooded in past and is not notified by the seller, then a purchaser could issue a compensation claim resulting from an inaccurate reply. The purchaser’s conveyancers should also conduct an environmental report. This should disclose whether there is a recorded flood risk. If so, additional inquiries should be carried out.
I got the keys to my flat on 6 November and the transaction details are still not registered. Need I be worried? My conveyancing solicitor in Lampton expressed confidence that it should be recorded in a couple of weeks. Are properties in Lampton uniquely lengthy to register?
As far as conveyancing in Lampton is concerned, registration is no quicker or slower than the rest of England and Wales. Rather than based on location, timescales can adjust according to who lodges the application, whether there are errors and whether the Land registry communicate with any 3rd parties. At present approximately 80% of submission are fully addressed within two weeks but occasionally there can be protracted delays. Historically registration is effected once the purchaser has moved in to the property therefore 'speed' is not always an essential issue yet where it is urgent that the the registration takes place urgently then you or your solicitor could speak with the land registry and explain the circumstances.
About to purchase a new build apartment in Lampton. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here is a sample of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Lampton
-
Please supply a car parking plan. There must be mutual enforceability of lessee’s covenants. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
Taking into account that I will soon part with over three hundred thousand on a property in Lampton I would like to talk to a solicitor about myhome move ahead of appointing the firm. Can this be arranged?
We could not agree more - we would be happy to talk to you we do not take any clients on without you speaking to the conveyancer due to be conducting your property ownership legalities in Lampton.There is no ‘factory style conveyancing’ - each client is an important person, not a matter reference. The practices that we put you in touch with believe that the figure you are calculated and presented to you for your conveyancing in Lampton should be the amount on the final invoice that you end up paying.